Alta Capital Management LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Alta Capital Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5,670.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,444 shares of the company’s stock after acquiring an additional 7,315 shares during the quarter. Alta Capital Management LLC’s holdings in MercadoLibre were worth $12,658,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Human Investing LLC purchased a new position in shares of MercadoLibre in the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased its holdings in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter valued at about $32,000. Finally, Mather Group LLC. increased its holdings in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 2.4 %

MELI opened at $2,070.41 on Tuesday. The firm has a market capitalization of $104.96 billion, a P/E ratio of 54.92, a P/E/G ratio of 1.12 and a beta of 1.62. The firm’s 50 day moving average is $1,916.76 and its 200-day moving average is $1,968.19. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Morgan Stanley decreased their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $2,402.81.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.